News
New York Capital Markets

Brookfield: $800M for 245 Park Ave Isn’t Enough

Brookfield Property Partners is looking to up the amount on its loan from the Bank of China for 245 Park Ave. It has an $800M loan now, and Brookfield’s looking to make it an even $1B. The deal’s due to close later this month. LTV will stay below 50%, even with the $200M boost, according to the Commercial Observer. Brookfield and the Bank of China go back a ways: In 2010, the bank did the biggest loan ever by a Chinese bank’s NYC branch to refi Brookfield’s Park Avenue Tower. [CO]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Empire State Building Observation Deck Hemorrhaging Visitors, Value

JLL Nearly Doubles Profits, Fueled By Leasing Rebound

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

Dewberry's Midtown Eyesore Quietly Resolves $75M Mortgage

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project